How to Beat the Market Over 50 Years w/ Jay Bowen (RWH049)

William Green chats with Harold J. (“Jay”) Bowen III, President & CIO of Bowen, Hanes & Company. Jay & his late father generated dazzling returns for their biggest client, the Tampa Firefighters’ & Police Officers’ Pension Fund. The fund’s stock portfolio has achieved an annualized return of 14.4% over 50 years & a cumulative return of more than 81,000%. Here, Jay explains how they pulled this off, sharing one of the great untold stories of the investment world. 

IN THIS EPISODE, YOU’LL LEARN
00:00:00 - Intro
00:01:18 - How Jay Bowen’s father came to run the fund half a century ago.
00:05:44 - What makes the Tampa Firefighters’ & Police Officers’ Pension Fund special.
00:23:37 - How to thrive by slashing fees, shunning consultants, & thinking long term.
00:38:20 - Why Jay takes a top-down thematic investment approach.
00:42:37 - How the fund made a fortune buying Coca-Cola before Buffett.
00:50:02 - Why it pays to bet on extraordinary CEOs.
00:52:35 - Why truly long-term investors shouldn’t bother with bonds.
01:08:12 - How Jay is positioned to profit from the Fourth Industrial Revolution.
01:13:39 - How he thinks about pricey stocks like Nvidia & Costco.
01:19:18 - How he invests in smaller companies he sees as future blue chips.
01:21:52 - Why he’s obsessed with the Federal Reserve.
01:30:18 - How to invest successfully in times of market mayhem.
01:43:30 - How being an endurance athlete has helped Jay as an investor.
02:01:16 - How he structures his days to optimize performance.

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▶️ RELATED EPISODES:
- A Margin Of Safety In Stocks & Life w/ Fred Martin: https://youtu.be/FoajhMa4DuM
- A New Golden Age for Savvy Stockpickers w/ Bob Robotti: https://youtu.be/LPJTOBZw74E
- Crushing The Market Over Four Decades w/ Thomas Russo: https://youtu.be/oqpeuaPyFMI
- How to BEAT the Market | Joel Tillinghast & Uncovering the Art of Outperformance: https://youtu.be/GCwcqO9u_08

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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.

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